Saad Group outlook revised to 'stable' on improved capital structure
Business Intelligence Middle East reported on 9 April that Standard & Poors revisied Saad Group outlookto 'stable' on improved capital structure. At the same time, the 'BBB+' long-term corporate credit ratings were affirmed.
Standard & Poor's credit analyst is Mohammed Fayek.
The potential for a rating upgrade is constrained by leverage and the potential for volatility in portfolio value. A sustained weakening of equity markets or a more aggressive growth strategy and subsequently higher leverage for the group could have negative implications for the rating.
Saad issued a Sukuk.
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